Spirit AeroSystems Holdings, Inc. (SPR) Sees Large Growth in Short Interest

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 10,590,098 shares, a growth of 120.0% from the May 31st total of 4,812,880 shares. Approximately 9.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,224,913 shares, the days-to-cover ratio is currently 8.6 days.

SPR stock opened at $84.72 on Friday. The firm has a market cap of $9.61 billion, a PE ratio of 15.84, a PEG ratio of 1.24 and a beta of 1.48. Spirit AeroSystems has a twelve month low of $56.75 and a twelve month high of $105.20. The company has a quick ratio of 0.98, a current ratio of 1.53 and a debt-to-equity ratio of 0.71.

Spirit AeroSystems (NYSE:SPR) last released its earnings results on Wednesday, May 2nd. The aerospace company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.70 billion. Spirit AeroSystems had a return on equity of 35.11% and a net margin of 4.82%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.17 EPS. equities research analysts predict that Spirit AeroSystems will post 6.28 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 9th. Investors of record on Monday, June 18th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, June 15th. This is a boost from Spirit AeroSystems’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.57%. Spirit AeroSystems’s payout ratio is 8.97%.

Several brokerages have issued reports on SPR. Canaccord Genuity cut their price objective on Spirit AeroSystems from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, May 3rd. Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Spirit AeroSystems in a research report on Wednesday, May 2nd. ValuEngine downgraded Spirit AeroSystems from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Seaport Global Securities reiterated a “buy” rating and issued a $110.00 price objective on shares of Spirit AeroSystems in a research report on Friday, April 20th. Finally, Barclays began coverage on Spirit AeroSystems in a research report on Thursday, March 29th. They issued an “overweight” rating and a $117.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $98.79.

In other Spirit AeroSystems news, Director Laura Wright acquired 1,200 shares of the business’s stock in a transaction on Tuesday, May 15th. The stock was purchased at an average price of $84.46 per share, for a total transaction of $101,352.00. Following the transaction, the director now owns 3,187 shares in the company, valued at approximately $269,174.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard A. Gephardt sold 8,000 shares of Spirit AeroSystems stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $89.33, for a total value of $714,640.00. The disclosure for this sale can be found here. 0.87% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in SPR. Mount Yale Investment Advisors LLC acquired a new stake in shares of Spirit AeroSystems during the first quarter worth $101,000. Fulton Bank N.A. acquired a new stake in shares of Spirit AeroSystems during the first quarter worth $201,000. Guggenheim Capital LLC acquired a new stake in shares of Spirit AeroSystems during the fourth quarter worth $207,000. American International Group Inc. acquired a new stake in shares of Spirit AeroSystems during the fourth quarter worth $211,000. Finally, Lucia Wealth Services LLC acquired a new stake in shares of Spirit AeroSystems during the first quarter worth $211,000. 95.31% of the stock is owned by institutional investors and hedge funds.

About Spirit AeroSystems

Spirit AeroSystems Holdings, Inc, through its subsidiaries, designs, manufactures, and supplies commercial aero structures worldwide. It operates through three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers (OEMs); and offers related spares and maintenance, repairs, and overhaul (MRO) services.

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